Fitch affirms India s rating at BBB- , outlook stable

Mumbai May 2 (IANS) Global ratings agency Fitch on Tuesday affirmed India s long-term foreign and local currency ratings at BBB- the lowest investment grade but said the outlook is stable.

Further the rating agency said it expected India s real Gross Domestic Product to grow at 7.7 per cent during 2017-18.

India s positive GDP growth outlook stands out among peers it said in a statement.

Fitch forecasts India s real GDP growth to accelerate to 7.7 per cent in FY17-18 from 7.1 per cent in FY16.

The agency expects structural reforms to increase growth along with higher real disposable income.

--IANS
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